UVIX is not a buy-and-hold due to roll decay; 2x Long VIX Futures offer stronger tail hedge with exit strategy needed.

The article explains that UVIX, a volatility ETF, loses value over time due to the VIX futures curve usually being in contango, making it unsuitable for buy-and-hold investors. Traditional put options also lose value due to time decay and premium squeeze. Instead, 2x Long VIX Futures provide a more effective tail hedge with potential for high convexity, but investors must set clear exit points to avoid losing gains as UVIX tends to revert to its mean quickly. This insight is important for investors seeking reliable tail risk protection strategies.